EMCORE (NASDAQ:EMKR) Rating Reiterated by Alliance Global Partners

EMCORE (NASDAQ:EMKR)‘s stock had its “neutral” rating restated by investment analysts at Alliance Global Partners in a research report issued on Thursday, Benzinga reports.

Separately, StockNews.com began coverage on EMCORE in a research report on Monday, April 8th. They issued a “hold” rating for the company.

EMCORE Stock Performance

NASDAQ EMKR traded down $1.78 during mid-day trading on Thursday, reaching $1.12. 4,313,218 shares of the stock were exchanged, compared to its average volume of 160,891. EMCORE has a 1 year low of $1.05 and a 1 year high of $10.30. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.95 and a current ratio of 3.11. The business’s 50 day moving average is $19.39 and its 200-day moving average is $37.45. The company has a market capitalization of $8.66 million, a P/E ratio of -0.10 and a beta of 1.54.

EMCORE (NASDAQ:EMKR) last posted its earnings results on Thursday, February 8th. The semiconductor company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.10. The business had revenue of $24.12 million for the quarter, compared to analyst estimates of $27.00 million. EMCORE had a negative net margin of 67.43% and a negative return on equity of 26.76%. On average, equities research analysts forecast that EMCORE will post -1.8 EPS for the current fiscal year.

Institutional Trading of EMCORE

A number of institutional investors and hedge funds have recently modified their holdings of EMKR. Perkins Capital Management Inc. boosted its holdings in EMCORE by 181.6% in the 3rd quarter. Perkins Capital Management Inc. now owns 2,326,000 shares of the semiconductor company’s stock worth $1,106,000 after buying an additional 1,500,000 shares during the last quarter. Herald Investment Management Ltd purchased a new position in shares of EMCORE in the third quarter valued at approximately $950,000. Manatuck Hill Partners LLC acquired a new stake in shares of EMCORE in the third quarter worth approximately $904,000. Penn Capital Management Company LLC increased its position in shares of EMCORE by 57.0% during the fourth quarter. Penn Capital Management Company LLC now owns 3,540,170 shares of the semiconductor company’s stock worth $1,731,000 after purchasing an additional 1,284,624 shares in the last quarter. Finally, Kovack Advisors Inc. increased its position in shares of EMCORE by 10.3% during the first quarter. Kovack Advisors Inc. now owns 887,400 shares of the semiconductor company’s stock worth $306,000 after purchasing an additional 83,100 shares in the last quarter. Hedge funds and other institutional investors own 65.66% of the company’s stock.

EMCORE Company Profile

EMCORE Corporation, together with its subsidiaries, designs and manufactures fiber optic gyro, ring laser gyro, and micro electromechanical system-based inertial sensors and systems in the United States and internationally. It offers navigation system and inertial sensing products, such as gyroscopes and multi-axis sensors, inertial measurement units, fiber optic gyroscopes, quartz micro electromechanical systems, inertial navigation systems, tactical navigation, and naval and amphibious navigation, as well as radar positioning and pointing systems, and battlefield/artillery survey systems.